Indian Economy News

Digital public infrastructure could help India become a US$ 8 trillion economy by 2030: Report

  • IBEF
  • February 22, 2024

Digital Public Infrastructure (DPI) has the potential to propel India towards a US$ 8 trillion economy by 2030, as per a report by Mr. Nasscom and Mr. Arthur D Little International. DPI encompasses digital networks that facilitate the delivery of social services to citizens, exemplified by initiatives like Aadhaar, UPI, and Fastag. The successful adoption of both 'mature' and 'budding' DPIs could aid India in realizing its aspiration of becoming a US$1 trillion digital economy, with the economic value contributed by DPI projected to surge to 2.9% to 4.2% of GDP by 2030, up from 0.9% in 2022.

Initiatives such as the Ayushman Bharat Digital Mission and the Open Network for Digital Commerce are anticipated to play pivotal roles in enhancing the value generated by DPI. Despite DPI's promising prospects, challenges persist, including the need for better stakeholder connections, real-time data availability, broader language support, and extending services beyond government domains. The vision for DPI extends globally, aiming for a connected and inclusive future by 2030, fostering efficiency and advancing social and financial inclusion as emphasized by industry leaders.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.